The cost of a controversial deal to give Western Australia extra GST revenue has blown out to $54 billion, with the nation’s richest state to receive an extra $21.1 billion from taxpayers over the next four years alone.
The West Australian government said in its mid-year budget update on Monday that it expected to receive $32.4 billion in GST revenue to 2027-28.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
